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's my tide, what's yours? >>> happy new year! just 17 hours from it every 2013 and the fiscal cliff. congress putting your money at risk. may be a last-minute vote in the senate today. again, that is more than 517 days after they could have fixed the thing to start with. in case you weren't angry yet, president obama sign the executive order that gives executive worker as a pay raise. won wonders whether congress has earned their raise. grover and i have never agreed on anything rat all except the fact that congressmen shouldn't have had a raise on thursday. good morning, goo to see again. >> good morning. >> you continue to engage in the conversation which i always appreciate. let me ask you this, you don't want taxes going up on anyone. but when things looked like they were aat an impasse and house speaker john boehner, the highest elected in the country. put forward his plan b about a week ago, you read it through, and you said you would be okay with people who had signed this anti tax pledge of yours voting for that bill. voting for an increase of taxes. and you will phrase it d
to the president's new comments on where the fiscal cliff talks stand and are you worried about going off the fiscal cliff? it's the "news nation" gut check. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. they don't help single moms. hi! hi! [ sarah ] what happened to our house last year? [ daughters ] it flooded and the water flooded out. yeah. [ sarah ] the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and take care of them. you know? i feel like we've come full circle. [ daughter 1 ] like that! [ daughter 2 ] this is how i'll do it. [ sarah ] there you go. >>> senate homeland committee chairman lieberman issui
number. comfort individualized. >> our coverage of the fiscal cliff continues moments away. other news making headlines and breaking at this hour. we've learned about five people killed in a charter bus crash on an icy interstate in oregon. these weather systems are something that we have been watching tonight. state police are telling us that 20 others were injured when the vehicle crashed through a guardrail and traveled down an embankment. some of the injured taken to local hospitals while others were treated there and there will be an investigation and we'll bring you pictures as they come into the news room as well. new developments regarding a fatal plane crash in russia. new video surfacing of the airliner as it careened off the runway and on to a highway in moscow yesterday. the impact sending debris flying into oncoming traffic, including a tire that slammed into a car. no passengers were on board at the time only crew members and the death toll risen to five after a flight attendant. the remaining three survivors listed in mythical or serious condition. hospitalized tonight.
of the fiscal cliff situation, or do you actually see some new product, maybe an apple tv, spurring to 900? i would argue you need to see a new product in order to get there. >> i think apple always vacillates between the two extremes of fear and greeand ri hitting that kind of max fear point with people all worried about margins and what the future products will be. and what only kind of shatters that fear and gets people greedy again, what led to the big run-up this year, is when people realized that the current product portfolio are going to be much bigger than they expected. you were talking about the ipad mini. i still think that's one that's widely underappreciated. i think there's an opportunity for huge growth as ipad mini alone this year. i think we'll see iphone move to a six-month cycle instead of a 12-month cycle. apple's seeing that people anticipating a couple of quarters ahead and holding off on sales. so i think there will be new products, though. i think itv is definitely one. i think november is likely the target there. and i think 2013 is going to be the year we actually se
at the new york stock exchange, facebook higher why? >> that's right, stuart, so the fiscal cliff concerns continue. here at the nyse, spirits are high. one of the traders gave me the snazzy glasses and one of the reasons could be facebook. and bmo capital upgraded facebook from underperform to outperform and raised its price target to $32, up from $15. and steeple nicholas raised the price market to $31 up from $26 and looking at facebook shares up 2% this morning and seems like it could be a happy new year for facebook and either way, stuart get these on here, a happy new year to you. stuart: they look pretty good, got to say. >> match the dress. stuart: i heard a comment from the gentleman to your left. >> the gentleman who gave me the glasses, very happy with his donation here. stuart: is he selling those? >> no, free of charge, actually. >> hey, diane, thank you for being here. >> thank you, stuart. stuart: secretary of state hillary clinton remains hospitalized this morning and has a blood clot related to concussion she suffered earlier this month. that concussion prevented her from
, there is some good news in that she's expected to recover. >> turning back to the fiscal cliff, just this hour we have reports of republicans claiming the president is holding up talks over the sequester. now we have senator mitch mcconnell and the president saying they want a deal on taxes first before dealing with the sequester. what's going on down there? >> reporter: well, there's this final sticking point of the sequester. they have agreed to this tax deal, which is not insignificant, of course. this tax deal which will increase taxes on individuals making $400,000 or more and couples making $450,000 or more because, remember, some republicans have been resistant to raise taxes at all. the hangup over the sequester is that the white house is saying, democrats are saying let's extend it, stave it off for a year, and pay for it with new tax revenues. republicans say, no, let's deal with it in the nearer future. that's really where the fight is coming together, but these negotiations continue to evolve and my sources tell me they're still optimistic for a deal. >> kristin welker, thank you.
griffith. we're just three days away from the new year. still no fix on the fiscal cliff, but there are developments right now, as you know. brian just mentioning there. various congressional leaders and the president getting set to meet at the white house this hour to work on last-minute negotiations all in an effort to avoid those series of tax increases and spending cuts due to take effect next year. what we hear is the senate leaders are there. speaker boehner and minority leader nancy pelosi have yet to arrive, but now we're showing you live pictures. maybe somebody is going to get out of that car, and we'll see if any of the other leaders will be heading to the white house. this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq h
an e-mail. >> the fiscal cliff, what would a new tax plan mean for small companies and their employees? we're going to get that story when we return. as we head to a break, check out the futures. we have red arrows. they continue to be red arrows. nasdaq off about 12.5 points, the s&p 500 off a little over 6.5 points. we have more coming up on squawk after this break. [ male announcer ] you've climbed a few mountains during your time. and having an investment expert like northern trust by your side makes all the difference. we add precision to your portfolio construction by directly matching your assets and your risk preferences against your own unique life goals. we call it goals driven investing. after all, you don't climb a mountain just to sit at the top. you look around for other mountains to climb. ♪ expertise matters. find it at northern trust. [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more
. >>> going over the fiscal cliff could be a few hours away. new year could bring economic gloom if congress doesn't get a bill to the president before midnight eastern time tonight without a bill taxes are set to go up for everybody. tahman bradley joins us live from washington. >> reporter: just a few hours, 11:00 our time, the tension is growing here in washington, after the weekend talks failed to lead to a deal if there is no breakthrough today, the country will go over the cliff. talks continue, this morning still no deal. >> we have further an financesments perhaps at 11:00 in the morning. >> reporter: -- republicans and democrats negotiated all weekend with the hope of passing ledge would protect most from a massive tax hike set to kick in tonight at midnight. >> our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy. >> reporter: there was optimism about a deal over the weekend when the republican leader in the senate)q mcconnell made an offer that all ended when harry reid said he could not present a counter proposal. mc
breaking news stories this hour. we now know the united states will in fact go over the fiscal cliff at midnight tonight. the senate is closing in on a deal, but the house has said it will not vote tonight. possibly take up any action tomorrow. the other breaking news story we're following, new details emerging of secretary of state hillary clinton's blood clot. doctors are now revealing it's located in a vein between her brain and her skull. they say it did not result in a stroke or any neurological damage. we're following both of these stories. i want to bring in tom foreman on the fiscal cliff. the emerging deal that's out there, no deal yet, and no deal until it's finalized, not only in the senate, as you know, tom, but the house of representatives and signed into law by the president. >> there's so many contentious details here. any one of them might trip this up, but there are two big pillars we're talking about today more than anything else. the first one seems to have been successful. it has to do with the idea of where you're going to put the threshold for maintaining the bu
a big news cycle happening on this last did of 2012. not only the fiscal cliff, but secretary of state hillary clinton in the hospital. we'll get to that in just a moment. a diagnosis of a blood clot. but some questions still remaining. >>> we have some weather stories, including the latest on this horrific tour bus crash on an icy highway in oregon. it was packed full of tourists. and it skidded off the road, leaving nine dead, many more injured. >>> and the live shot from new york presbyterian hospital where secretary of state hillary clinton is being cared for right now. abc's martha raddatz has the latest on her condition. martha, good morning. >> reporter: the secretary has not been seen in public since early december after an illness and then a fall. but this is the first time she's landed in the hospital. >> probably a good idea to -- >> reporter: on sunday, secretary clinton was admitted to new york presbyterian hospital for treatment of a blood clot. according to the state department, in the course of a followup exam, the doctors discovered a blood clot had formed, stemming fr
to the fiscal cliff here on "morning joe." with us now from the new york stock exchange, we have cnbc's mary thompson. mary, it's good to have you on this morning. first of all, how's wall street? i mean, we're preparing for whatever the reaction might be to whatever the pitiful little plan that might happen today is. >> you know, right now what we're setting up for is probably a lower open here on wall street. if you look at how the markets reacted over the last five sessions, they've had a five-session losing streak, so it looks like we could be on track for a sixth. what this reflects is the growing expectations, obviously, that a grand bargain on the fiscal cliff won't be reached. now, there still remains some hope here on wall street that maybe a band-aid measure will be reached by day's end. nevertheless, a number of traders told me, they say you know, even if we go over the cliff, they'll probably do a short-term fix at least in the early days of 2013. the problem is is that they don't expect the uncertainty that overshadows how we are going to address the long-term deficit issues her
the fiscal cliff deadline, the new year's countdown is taking on a whole new meaning. >>> health scare. just days before secretary of state hillary clinton was set to return to work, she suddenly is hospitalized for a blood clot stemming from that concussion she sustained recently. >>> and in an nbc news exclusive, president obama lays out his second-term priorities, and guns didn't make the list. >>> plus, is there new hope for chuck hagel? the president defends his possible defense secretary pick. >>> good morning from washington. it's the last day of the year, december 31st, 2012, and this is "the daily rundown." i'm chris cillizza in for chuck todd. with sweeping tax increases and across-the-board spending cuts set to take effect at midnight, even lawmakers are now publicly pessimistic about the ability of congress to, well, get anything done. at best, democrats and republicans will patch together a limited, short-term deal to avoid the most immediate economic impacts of the fiscal cliff. with 15 hours to go and counting, members of congress are disgusted and embarrassed. >> when the fut
." >>> it is 8:00 on east coast. a lot to tell you about the fiscal cliff. first, breaking news. we just got this from the associated press. secretary of state hillary clinton has been admitted to the hospital with a blood clot. following that concussion, you'll remember, she suffered a concussion after becoming severely dehydrated and she fell earlier this month. we should say, nbc news has not confirmed this report. let's go to nbc's kristin welker, who is at the white house. my understanding was, kristin, she had been expected to go back to work soon. >> reporter: that was our understanding. secretary of state, officials with the department, essentially saying that she was getting better, they expected her to return to work soon. of course, we learned about the fact that she was not feeling well, that she was ill, she had the flu a couple of weeks ago, and then a couple days after that, we learned that she became dehydrated, fell, suffered a concussion, as you said. at that point in time, officials with her department said she was at home, he was resting, she was getting medical care, she
: happy new year to both of you. thanks, guys. rick: we have been caught up count down to the fiscal cliff and there is a more fun countdown. tonight more than a million people will gather to ring in the new year. millions of dollars expected to be generated for local new york city businesses. lauren is there in times square. she joins us now. >> reporter: it turn out if you have a microphone you become really popular. it's starting to get really busy in times square. all of these people have actually started to close off the streets. they missed the cue. all right. all right. so they started to -- they started to close off the streets behind me and people are pushing close and they will start to go in at 3:00 p.m. so just a couple minutes from now. then at 6:00 that iconic ball will go all the way up, pushed about it ceo of phillips lighting. it falls down at midnight. all these crazy people behind me are expected to spend get this, $25 million. that's the economic impact for new york city. and they threw all the confetti prematurely, but when it comes down from the sky at midnight we'll
viewers here in the united states and around the world. breaking news on the fiscal cliff. there's been a significant snag in the negotiations with just fewer than two days remaining to go. about 36 hours remaining on the countdown clock. dana bash is on capitol hill with latest. dana, what have you got? >> this kbifs you a good sense of where things stand. they're at a standstill. you see a lot of reporters milling around. it's behind this wall that you can't see. the democrats, all senate democrats are meeting now, getting a briefing from the senate democratic leader, harry reid and down this haul, which you can't see from here, the same thing is going on with republicans. at the podium we hope to hear from senate majority leader, harry reid. in terms of where things stand, they're frozens it goes. earlier today, we explained that the reason from the democrats point of view is that they got an offer from republicans that includes what was known as chained cpi, which you've been explaining means social security checks would be smaller for social security recipients, which is something
coming back in. we keep talking about the so-called fiscal cliff. there are consequences for inaction if that countdown clock gets to zero and there's no deal and no deal has been reached. >> jonathan, thank you. to your point, it's remarkable to me that what we're debating is exactly what we were debating six months ago. it's not as though something has happened recently. this is the debate we've been having or the debate we haven't been having making it all the more remarkable that we have a countdown clock for it. thank you. >> that's right. >> a deal on the fiscal cliff may be at hand, but there's still a lot to do, and not a lot of time to do it. delaware democratic senator chris kuhns. thank you for taking the time. i want to talk about something first that your colleague tom hashi harken said on the senate floor. let's come back and talk about it. >> it looks like all of the taxes will be made permanent, but all of the other things that the middle class and america really depends on. one year or two years at the most, but the tax system is made permanent. well, i just think tha
head into the new year with the government on the edge of the fiscal cliff. and for many of us, the usual year-end financial strategies may not apply this year. 7 on your side's michael finney has some tips to help sort out of confusion. out the confusion. >> when it comes to year-end finances it may not add up. >> it is difficult to do any tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that doesn't happen, most believe taxes will go up next year. >> one of the things that is being floated right now is people are advising people to get out of dividend paying funds, high dividend yield funds and move more into tax exempt bonds and things like that that won't be taxed. >> the current budget negotiations between president obama and house speaker john boehner also could mean the reduction of the popular deduction for charitable contributions. >>- q. i if
. >> have a good new year. >>> the possible fiscal cliff isn't the only thing happening at the stroke of midnight. more than 400 new laws take effect. some have a major impact including in new hampshire partial birth abortions will be banned. same sex couples will be able to marry in maryland. also registered sex offenders in illinois will no longer be able to dress up like santa or the easter bunny and will not be allowed to hand out candy on halloween. then there are some laws that just make you kind of go, hum. it will now be illegal for employers to require or request social media passwords in several states including maryland, new jersey, and delaware. motorcyclists in illinois can now run a red light if that light fails to change. in florida, your swamp buggy will no longer be considered a motor vehicle. >>> it is about 50/50 right now. i obviously would like to see a deal that would avoid the cliff but it depends on the content of the deal. >> it's a shame and disgrace that we are where we are. the american people are fed up first of all with this process. secondly, with the pr
more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on. the night rolls on in some cases. midnight in the u.s. is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are
the country from going over that fiscal cliff. >>> big break in mysterious murder of a south bay millionaire. >>> health care for secretary of state clinton. new d ñ this december 31st, new year's eve, the last day of 2012, we are starting out you can see in this live picture from the embarcadero looking across the bay, it is a frosty but clear and dry start just looking at that you know tv set the picture, you can probably tell the chill that is out there. thanks for joining us i'm kristen sze >>> and i'm katie marzullo in for eric thomas. we'll hand it over to mike. >>> issue out there, black ice on san pablo dam road near inspiration point may have caused accident. not only frosty conditions but the possibility of black ice this will happen again tomorrow morning coolest morning will be wednesday something to think about. here's a look at live doppler, high clouds have moved on, hitting our coldest temperatures of the morning now, that means 30s in a lot of areas around the bay to 44 in san francisco, mid to upper 40s at noon, low! 50s with a few high clouds and sunshine this afternoon,
nanogram to reach impairment. william la jeunesse, fox news. >> bret: update on how the fiscal cliff affects wall street or could affect wall street, as we near the 11th hour. france tried to put a heavy tax burden on millionaires. the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reve
at congress with distain and rightfully so. with the deadline on the fiscal cliff only hours away we've failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> reporter: so everybody is waiting to see if the senate can reach a deal on the fiscal cliff. it's not entirely clear when the house would act. i talked to a key leadership aide who he said if the senate passes a deal we could certainly signal that we will take it up perhaps tomorrow morning and that would keep everybody calm, but first things first, they need a deal, jon. jon: by my calculation they have less than 13 hours to accomplish that. mike emanuel, thank you. >> reporter: thank you, sir. jon: let's take a look at the dow with all this fiscal cliff nonsense going on. it's up, actually about 8 points right there as you can see. still down below 13,000, though, after heavy losses last week. very light trading also as you might imagine on this day before the market is closed for the new year's holiday. while congress cannot seem to agree on a fiscal cliff fix, it loo
, i guess the good news is that i'm rising today not to speak about the fiscal cliff, but what i'm speaking about is not good news because it deals with the tragic events that occurred in benghazi, libya, on september 11th when -- >> we are watching senator joe lieberman of that's joe lieberman talking about the fiscal cliff issue. let's go to luke russert, who is in washington following all of this as it somewhat progresses, or not. what is the latest that you're hearing? >> well, if i was not mistaken, harry reid said they would meet tomorrow morning at 11:00 a.m., which leads me to believe that doing anything tonight is probably not a possibility. obviously we'll have to check that. but talking to folks around the building, there are a few things that have come up. i spoke to senator conrad of north dakota. he was very adamant saying the republicans wanted to much in regard to the estate tax. democrats want to extend that, up to 35% of an estate. the most interesting thing i found out, i talked to one high ranks republican member and they said we're preparing our members that
by rob jackson. redskins into the playoffs. rg3. maybe he can solve the fiscal cliff. >>> and all that matters. >> fireworks lit up sydney harbor, beautiful, as people mark the start of 2013. happy new year. >> on "cbs this morning." >>> chuck pagano back on the colts sideline yesterday cancer free as the colts won 28-16. >> i feel so blessed to be back with you guys in the battle. thank you. thank you so much. captioning funded by cbs >>> welcome to "cbs this morning." i'm norah o'donnell with anthony mason. as we wake up the deadline to the fiscal cliff is just 14 hours ai wa. there's no deal yet, but members of congress are heading back to capitol hill. first, breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that's kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret good morning. >> reporter: good morning to you. secretary clinton is taking anti-coagulant to
. christine, happy new year. >> thanks for watching. i'm christine romans following fiscal cliff all day and night. ashleigh banfield returning tomorrow. "newsroom with suzanne malveaux" starts right now. >>> welcome back to "cnn newsroom." here's what's going on right now. ♪ >>> 2013 hitting right now in bangkok, thailand. we're looking at live pictures there as the celebrations and the fireworks exploding there. lots of picture-taking and a lot of excitement there. right now pope benedict holding a new year's eve mass at st. peter's basilica. they will celebrate the new year in six hours. a couple of hours ago folks toasted 2013 in new zealand. check it out. >> pretty cool. party started with fireworks with the auckland sky it tower. organizers were worried bad weather would be a problem, but everything turned out just fine. congratulations. the second major city to ring in the new year, sydney, australia. check it out. wow, that is over city harbor bridge. the show is huge. we are talking about seven tons of fireworks. happy new year's all around. >>> of course, we are waiting as we
much. happy new year. oil and gold in the green as the fiscal cliff talks continue. sandra smith has more on today's. sandra: let's start out by looking at a gold chart. we are up about seven dollars. however, i want to remind all the viewers out there that this would still be on pace for a 2 straight annual gain. it has gone up 12 years in a row. oil up $0.36 at 9116 a barrel. still well above $90. the oil market would signify that traders here, at least on the floor, police that there may be a deal by the end of the day. >> i kind of disagree with that. this. the crude oil market has to be taken on its own. i will not say that the fiscal cliff will dictate which direction prices will go. look at demand numbers for what we are using globally. they have been very positive. sandra: we will have to leave it there. give me your best guess at what happens at the end of the day. >> push as much of it as they can down the road. it is a shame that we do not have a functioning bond market. sandra: we will be talking to traders down here on the floor all day. we are approaching the final hou
the fiscal cliff negotiations on capitol hill. do you have any good news for us, lisa? >> reporter: the news is a little better than it was earlier today. we know negotiations are still happening. there was a point today where we thought there was a total breakdown. tonight it's between senator mitch mcconnell and vice president joe biden. we're some of the last people in the building. i know -- come on through, guys, if you want. there's one of the crews that -- the worker crews are starting to come into work tonight. we're the last reporting crew. all the members of congress have pretty much gone. the republicans in the house were meeting late tonight to try to talk about what to do, in the end this is what our producer deirdre walsh heard from them. the message is just sit tight, stay tuned and i think what we have to do, don, is find out tomorrow morning, whether there is any progress between senator mcconnell and vice president joe biden. there is definitely hope. there is not a lot of time. >> let me tell you this, lisa. when you see the workers there, and the crew that -- and those ar
talking about the fiscal cliff. instead of a countdown until the end of the year, until the new year, we've got a countdown until we hit the fiscal cliff. what does that say? it is the most predicted financial crisis that we have ever known about. we've known about it for months. we've known about it since the temporary tax provisions were put in place two years ago. yet, here we are, the 11th hour on the final day trying to negotiate with two people in a room. making decisions that will have a profound impact on the future of this country. and i have to say, mr. president, that as i think about those negotiations that are going on, most of what is being talked about is who will pay more in taxes, not a question of "if." it's a like, who's going to pay more in taxes? the ironic thing about it is those discussions, at least to my knowledge of them, there's very little being discussed, if anything, that deals with how is this country going to figure out a way to spend less, which is the problem, okay? i mean, let's face it. washington, d.c., doesn't have a taxing problem. we have a spendin
than a year. now, as the new year's deadline approaches, the fiscal cliff may be moving to a later date, in 2013. it is part of a possible deal that is forming at this hour. this, of course, represents the $3.6 trillion the u.s. government spent last year, unless congress reaches a deal when the new year hits. so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief white house correspondent
sweeper's coat. happy new year from germany. >>> regarding the impending fiscal cliff, we have seen a lot coming from washington, but what about the boss? and by that i mean the american people, and they are angry. josh levs is covering that part of the story and he joins us now. >> yes, we are seeing a lot of frustration and anger, and that is a big part of the story in the country right now. we are following a lot of the developments and reading the tea leaves in washington, but the fact is that around the country, the mounting frustration and concern about what could happen to you and your taxes and a lot of people are sounding off. we have been getting a lot of videos today and ireport, and take a look at this one. >> my mes sang to all of washington for the new year is partisanship aside and working on fixing this mess that you have gotten us into. and bring a ball lapsed budget to the table and fix it in the long term and not the short term. >> this one struck me today because it got us thinking to the young people in the country and what the message the congress is sending to the y
on any new volkswagen. visit vwdealer.com today. >>> this whole fiscal cliff mess shows how incredibly out of touch your the way people really live in this country. you are off in la la land and everyone is saying how you're acting like a bunch of spoiled brats who are more interested in being right than in doing the right thing and actually representing the people who elected you. >> my new year's message to washington is this, there are not enough wealthy people or corporations to keep you in office. in that light, please simply grow up, govern, but most importantly, support middle class policies. >> americans, as you can see, are clearly very frustrated with lawmakers. at this moment, there are no deal yet to be reported when it comes to trying to keep your taxes from going up. government spending for things like education, research and investments in infrastructure will also take a big hit. but my next guest says that our defense department is in a much better position to endure a hit like that. lawren lawrence korb joins me in washington. he's former assistant secretary of defense
we get to questions about the fiscal cliff. can you give us an update. we heard news about secretary hillary clinton. >> that's right, is she had a follow-up example at new york presbyterian hospital today when her doctors discovered she developed a blood clot. she's being treated with anti-clot medication at presbyterian hospitals and doctors are going to monitor progress over the next 48 hours. we're told her doctors will continue to assess her condition including what is associated with her concussion. >> hopefully that's a quick hospital stay. anybody, questions on the-- >> yeah, mike, it's beckel. mcconnell stayed out of this thing all along until he comes in at the last minute and i give him credit for trying it. at the last minute he drops in a reevaluation of the cross limit on entitlements which mired up the whole thing. we know full well you can't get that done in a day. why in the world is mcconnell messing with this thing. >> bob, you've probably been part of these high profile negotiations. >> i have. >> and dana mass. it's horse trading. bottom line, he probably wasn't
, the new tax takes effect tomorrow and it's got nothing to do with the fiscal cliff. it has to do with obamacare. we'll tell what you it is inform could hurt. then don't know what to do with your christmas tree? here is an idea. ♪ >> clayton: welcome back. the government wishing the american people happy new year with a brand-new tax tomorrow. >> dave: regardless of the outcome of fiscal cliff negotiations, americans will be hit with a $1 trillion new tax bill thanks to obamacare. >> clayton: joining us now is texas congressman and vice chairman of the subcommittee on health, dr. michael burgess, who knows a thing or two about the health care system. congressman, nice to see you. happy new year, or not so happy for a lot of people. >> thanks. >> clayton: break this down. what kind of taxes are we talking about here that basically have nothing to do with the fiscal cliff, right? >> correct. these are baked into the cake and they're happening regardless of whatever happens with the house or senate today. there is five changes, major changes in tax policy that start on january 1 as
of the fiscal cliff and we're keeping a close eye on negotiations. >> we're going to spell out what the talks could mean to you and if lawmakers fail to reach a deal what the fallout will be for you and your wallet. you're looking at pretty pictures of capitol hill. i don't know if the scene is pretty but the pictures are. >> the lights are on, the question is, is anybody home? what seems to be a bitter stalemate between democrats and republicans on the fiscal cliff, we have learned of a bit of change this evening with the negotiations. for one, we have learned that the senate will reconvene tomorrow at 11:00 a.m. that means no decision tonight. we have also learned senator mitch mcconnell, the republican minority leader, has had conversations directly with vice president biden. mcconnell had been working with senate majority leader harry reid, but he and biden have gotten things done when working together in the past. can they do it now? let's go to dana bash. dana, what do you think? is it promising? can they go it now? >> reporter: well, let's start there. it certainly has happened before
watching the fiscal cliff finale along with the rest of us. cnbc's mary thompson is live at the new york stock exchange with what's moving your money. tough week for stocks last week, mary. what are investors looking for today? >> it looks like a slightly more optimistic tone in the markets this morning, chris. the major averages higher across the board as the number of headlines suggest that progress is being made on perhaps a band-aid or smaller deal to avoid the fiscal cliff. that is giving investors some hope today after what you mentioned was a very difficult week last week. we had five straight sessions of losses for the major indices. as basically the realization started to grow we aren't going to reach any kind of grand bargain. i think if you looked back about two months ago investors were more optimistic this would indeed happen. again as we moved toward that deadline right now investors are hoping at least for a small deal. so that is why we're seeing some strength in the markets today. interesting to note, though, i know you were talking about sequestration with your earlier
to work, another sign of inaction on the fiscal cliff front. joining me now for our daily fix, mr. jonathan capehart, msnbc contributor and "washington post" editorial writer. jonathan, we're just six days away, no indication from house republicans that they are going to come back any time soon. the leadership has gone mum on that. we know there's not been communication between boehner and mcconnell, obama and boehner. are you amazed with this short amount of time to go there seems to be no sense of urgency on either side? >> am i amazed, given what we went through with the debt ceiling, no, i'm not amazed. i think there are forces here in this town that would like for us, sure people would like for there to be a deal, but going over the cliff on january 1st when there's this notion where it's not really a cliff, it's a slope, it's a curb depending who you talk to, that you can repair the damage if you get a deal done, you know, a few days after january 3rd. i think people feel like they can slow walk. as we saw last week when plan b failed, you know, speaker boehner said it's up
of the effects, if we do go off the fiscal cliff, if congress takes no action. this is the chart from the new york times of what will happen immediately and in the next couple months. in terms of the immediate tax increases, the payroll tax rise of 62% from four 0.2% and workers first $113,000 of income. capital gains, qualified dividend's, and estate and gift taxes are subject to higher taxes. higher earners face new taxes under the health care law. within the next couple glock -- a couple of months, the bush era tax cuts that have been debated over -- the bush-era tax cuts on income expire december 31, workers will not fill the impact until the treasury releases new withholding instructions. alternative minimum tax -- the charred talks about spending cuts, immediate and in the future. and it refers, payments to medicare providers would fall by 27% if there is no action. extended unemployment benefits expire for about 2 million people on january 1. to be the $110 billion in automatic domestic and military spending cuts known as the sequester. in the next couple months, the march 27, a six mo
on any new volkswagen. visit vwdealer.com today. >>> fiscal cliff hanger, a white house meeting as we head into the last weekend before the deadline. >>> wanted in new york. take a look. police say the woman seen running away on the right had just pushed a man to his death in front of a moving subway train. >>> baseball cap controversy. the braves now retro logo raising a few eyebrows this morning. welcome back to "early start." so glad you are with us on a friday morning. >> it is friday, isn't it? i'm drew griffin. john and zoraida are off. lawmaker has a long time to avoid the fiscal cliff. now only four days left and no deal in sight. that could change today, when president obama holds a meeting with all four congressional leader at the white house. we're not saying you should bet on it. let's bring in ron brownstein for "the national journal." >> good morning. >> good morning. we're talking about this whole idea of a fiscal cliff was absolutely not supposed to happen. >> this was a machine that the two sides built to give guy them more will power to do what they didn't want to do
. gregg: this is it. we are just hours away from falling off the so-called fiscal cliff. tax hikes for nearly every american. lots of different ones. spending cuts of totaling more than a trillion dollars. by all indications, nothing, we mean nothing has changed on capitol hill. senate majority leader harry reid saying significant distance remains between the two sides. good morning everyone, i'm gregg jarrett in for bill hemmer here in "america's newsroom.". >> i'm heather childers in for martha maccallum the senate gavels in at 11:00 a.m. we'll see if there was some miracle overnight. gregg: i doubt that. yesterday, republican senate leader mitch mcconnell made an emergency call to the vice president joe biden in an evident to jump-start negotiations. heather: if no deal is haed out today, majority leader reid says he will call a vote on a separate white house plan that reflects's original proposal. gregg: chief correspondent mike emanuel kicks off the coverage. mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems
. so to avoid this utterly upness artificial fiscal cliff crisis, all they need to do is approve something small. but it's something republicans remain reluctant to do, and will only do, if they do, at the last minute, after having then str t demonstrated to tea party supporters they did everything they could. >> i wonder if we should be surprised. do you see any short term way to fix this? what is your thoughts about the chances here? >> yeah, listen, there are fewer competitive seats. many more safe seats, largely as a result of an idealogical and geographical sorting. gerrymandering contributing it to, but it's by no means the main factor. the things that we can do in the long run, but in the short term, republicans have to feel that they have to change, they have to open their party, broaden the base if they are to avoid falling into permanent minority party status. >> thomas mann, thank you so much. >>> for republicans, losing the political fight over the plik may not be the down side of the strategy, it may be the strategy itself. that's ahead when we continue right after
no signs of a deal in the senate right now on how to avert the fiscal cliff. let's bring back the senior editor of "the new republic" and author of "the escape artists, how obama's team fumbled the recovery" and ed o'keefe congressional reporter for the "washington post." thanks to both of you for coming back here. ed, do you think the deal is dead right now? >> no, by no means. as we understand it, negotiations are continuing. right now both parties in the senate are meeting behind closed doors to discuss what was going on and what they may or may not be able to agree to as you've reported throughout the hour. mitch mcconnell has reached out to vice president biden, two experienced legislative hands who have worked together on these types of deals before. if anyone at this late hour could get a deal done it would likely be these two. keep in mind, no matter what deal is crafted on in the senate, voted on tonight and tomorrow morning it still has to get passed here in the house where i'm standing right now. we were talking to tom cole a little while ago on the show. off camera he was tel
that fiscal cliff. senators will try to reach a compromise today. but if not, starting tomorrow we'll all be paying more in taxes. >> i believe they're talking right now, not watching "world news now." they're actually trying to get something done. considering what they've been doing a last couple of months not going to put my money on that. just sing "kumbaya." just get it done, ladies and gentlemen. >>> and the cliff of a different kind. one by one, sledders tumbling into an icy lake. but most trying to rescue one another. we'll explain what this is all about. >>> and in "the skinny" this morning, kanye west addresses rumors of a kim kardashian pregnancy. we'll talk about that. >> and we're going to have to tell rob she's cheating on him. >> is that right? >> rob is a huge fan. >> she's a sexy woman. rob is right about that. >> i had to break the news to him that she's pregnant. so pretty much destroys his chances. >>> we're going to talk about secretary of state hillary clinton in a new york hospital this morning after doctors discovered a blood clot. >> her medical problems began week
on the fiscal cliff. not yet. >> lawmakerks not find common ground, and we will all be paying taxes come tomorrow. it is monday, december 31. >> from abc news, this is "world news now." >> good morning, everybody, i'm john muller in for rob nelson. >> good to have you here. >> great to be here. >> i'm paula faris. a little later this morning, lawmakers are going to make a last-ditch effort to make a compromise. here's the latest on the talks in just a moment. but first, a look at some of the other stories. a health scare for hillary clinton. the secretary of state is hospitalized this morning after doctors discover a blood clot. we'll have the latest on her condition. >>> also this morning, a different kind of contract for a young iphone user, what this teen's mom is making him agree to before he's allowed to talk or text. >> i think it's fantastic parenting by the way. >>> a huge weekend in nfl action. the bitter end for some teams. >> yeah. >> bears. and the beginning of playoff hopes for others, who's out, who's in, who shouldn't be. fantastic details. >> bears and giants are both out
the fiscal cliff? >> i'm afraid we will. i think it will get fixed right after right into the new year but i don't think it will get solved. >> something small, kicking the can down the road? >> correct. >> that same old thing. >> deal with the impasse until we get to the debt ceiling impasse. >> we'll talk about the politics of that coming up. former governor of pennsylvania and nbc news political analyst, ed rendell. ed, are we going over the cliff? >> no, i think we will kick the can down the road emphatically, but we won't go over the cliff. >> wow. director of the earth institute, economist dr. jeffrey sachs. if we do, should we? >> more of the same because we're not going to solve anything, even if there's a deal today, we're going to see exactly that same tape replayed in two months, four months, six months. so i think there will be some kind of deal today, tomorrow, but it won't solve any of the basic issues. >> so a doomsday deadline would not have worked in this case? it will be the same thing. >> yes, because either side's not really talking about the basics to get to the real res
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